{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-059077","form_type":"8-K","ticker":"PRXK","cik":"0001692345","company_name":"PROCACCIANTI HOTEL REIT, INC.","filed_at":"2026-05-12T13:30:17+00:00","discovered_at":"2026-05-12T13:31:00.254719+00:00","generated_at":"2026-05-12T13:31:50.508697+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Procaccianti Hotel REIT renegotiates $15.6M loan; rate cut to 6.50% on Traverse City hotel debt","bullets":["Interest rate reduced to fixed 6.50% from prior rate; effective May 6, 2026.","Maturity unchanged at June 6, 2027; principal remains $15.6M.","Lender now Beacon Bank & Trust (successor by merger to Berkshire Bank).","Loan secured by Hotel Indigo Traverse City property and business assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-059077","json":"https://secwatch.observer/filing/0001104659-26-059077.json","markdown":"https://secwatch.observer/filing/0001104659-26-059077.md","text":"https://secwatch.observer/filing/0001104659-26-059077.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1692345/000110465926059077/0001104659-26-059077-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1692345/000110465926059077/tm2614243d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-12T13:31:50.508697+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"113afb9efd5bcdcc40df9e802f411e7a26925a71","claim":"PROCACCIANTI HOTEL REIT, INC. amended loan with Beacon Bank & Trust, successor by merger to Berkshire Bank at fixed rate of 6.50% per annum maturing June 6, 2027.","evidence_excerpt":"the interest rate applicable to the Refinancing Loan was reduced to a fixed rate of 6.50% per annum for the remainder of the initial term of the Refinancing Loan, which currently matures on June 6, 2027.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1692345/000110465926059077/0001104659-26-059077-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Counterparty","value":"Beacon Bank & Trust, successor by merger to Berkshire Bank"},{"label":"Rate","value":"fixed rate of 6.50% per annum"},{"label":"Maturity","value":"June 6, 2027"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"b8f849fdb2777c186a3e0503bf9da32230e6b0ff","claim":"PROCACCIANTI HOTEL REIT, INC. amended Change in Terms Agreement with PHR TCI, LLC and Beacon Bank & Trust valued at $15,600,000 (effective 2026-05-06).","evidence_excerpt":"On May 6, 2026, PHR TCI, LLC, as borrower, and Beacon Bank & Trust, successor by merger to Berkshire Bank (the “Lender”), as lender, entered into a Change in Terms Agreement (the “Change in Terms Agreement”) with respect to the Refinancing Loan and the Refinancing Note.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1692345/000110465926059077/0001104659-26-059077-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PHR TCI, LLC and Beacon Bank & Trust"},{"label":"Value","value":"$15,600,000"},{"label":"Effective","value":"2026-05-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}